- Price is currently testing the midline of the Bollinger Bands (blue line), which often acts as dynamic support/resistance.
- The recent price rejection at the upper band and subsequent drop toward the midline suggests a potential continuation to the lower Bollinger Band (~940-950 range) if bearish pressure continues.
- Increased volume on recent down days suggests strong selling pressure.
- Resistance: ~1030-1050 (recent highs, upper Bollinger Band).
- Support: ~940-950 (lower Bollinger Band, previous consolidation zone).
- If price fails to hold above 980-990, further downside to ~950 is likely.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.